The American marine economy continues to fuel economic vitality, according to the statistics from the annual Marine Economy Satellite Account (MESA) released in June 2023 by two U.S. Department of Commerce agencies – NOAA and the Bureau of Economic Analysis (BEA).
The marine economy contributed a total of $511 billion to the nation’s gross domestic product (GDP) in 2023 (5.9% growth since 2022). It generated $827 billion in sales (4.5% growth since 2022) and supported 2.6 million jobs. The MESA statistics include all economic activities related to the ocean and U.S. coastal regions.
“From tourism and recreation to research and education, the marine economy touches the lives of every American,” said Acting NOAA Administrator Laura Grimm. “These statistics show how vital our marine industries are to American economic prosperity.”
This year’s report summarized 2023 data for sectors that include shipping, fishing, tourism and marine construction. Tourism and recreation topped the list of economic contributors, adding $179 billion to the GDP. Marine construction – which can include conservation, dredging and the building of recreational facilities – saw the largest growth in inflation-adjusted sales (15.6%).
MESA is a collaboration between NOAA and BEA to improve national estimates of economic activity tied to the ocean, coastal areas and major water bodies – including the Great Lakes, Chesapeake Bay and Puget Sound, and others. It provides data for 10 sectors representing businesses that depend on these water bodies.
2023 Marine Economy sectors, ranked by sales, adjusted for inflation, and percentage change compared to 2022:
- Tourism and Recreation: $225 billion (+4.0% growth)
- National Defense and Public Administration: $197 billion (+1.1% growth)
- Offshore Minerals: $77 billion (+9.6% growth)
- Transportation and Warehousing: $68 billion (+1.1% growth)
- Living Resources, such as commercial harvest and seafood markets: $34 billion (+5.1% growth)
- Ship and Boat Building: $20 billion (-0.3% decline)
- Coastal Utilities: $15 billion (+1.3% growth)
- Research and Education: $12 billion (+8.1% growth)
- Professional and Technical Services: $9 billion (+2.3% growth)
- Marine Construction: $8 billion (+15.6% growth)
These statistics track national priorities on revitalizing domestic maritime industries and the growth of U.S. seafood markets. Additionally, they help policy-makers across the nation understand the impact of the marine sector to the U.S. economy on states and local communities. These statistics also aid industry advocates and organizations that are considering investing in new and growing markets.
“The level of detail provided by this report is key to understanding the dynamics behind our coastal economies,” said NOAA Chief Economist Monica Grasso, Ph.D. “When the marine economy does well, it creates prosperity across the nation.”
The full report, data and related materials are available on NOAA’s Digital Coast website and on the BEA Marine Economy website.
What’s a Satellite Account?
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